(a) The manager of a stockroom in a factory has constructed the following probability distribution for the daily demand (number of times used) for a particular tool Y 0 1 2 P(y) 0.1 0.5 0.4 It costs the factory $10 each time the tool is used. Find the mean and the variance of the daily cost for use of the tool.
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
hello i have attached a picture for probability and statistics, please if you can solve the question it would really help me. help me find the daily cost for the use of the tool if it cost $10 each time it is used.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
